Fiduciary Rule Being Rushed to White House, Report Says

The Obama administration is maneuvering through the final weeks of work on a fiduciary standard in an attempt to ensure its passage before a new administration takes office next year, experts say.

Compared with preliminary versions of the rule detailed by federal officials, "My expectation is that the key provisions of the rule will remain intact," says Barbara Roper, director of investor protection at the Consumer Federation of America. That's a sentiment shared by fiduciary advocate Sheryl Garrett, founder of the fee-only Garrett Planning Network, which President Obama has held up as a model practitioner of middle-class fiduciary financial planning.